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MPLX Gears Up to Report Q1 Earnings: What's in the Offing?

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MPLX LP MPLX is set to report first-quarter 2022 results on May 3, before the opening bell.

In the last reported quarter, the diversified, large-cap master limited partnership reported earnings of 78 cents per unit, beating the Zacks Consensus Estimate of 75 cents per unit on increased contributions from logistics and storage operations as well as the gathering and processing business.

In the trailing four quarters, MPLX beat the Zacks Consensus Estimate for the bottom line three times and met once, delivering an earnings surprise of 4.9%, on average. This is depicted in the graph below:

MPLX LP Price and EPS Surprise

MPLX LP Price and EPS Surprise
MPLX LP Price and EPS Surprise

MPLX LP price-eps-surprise | MPLX LP Quote

Let’s see how things have shaped up prior to the announcement.

Estimate Trend

The Zacks Consensus Estimate for its first-quarter earnings per unit of 77 cents has witnessed two upward and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year increase of 13.2%.

The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $2.4 billion indicates a 1.4% improvement from the year-ago reported figure.

Factors to Consider

MPLX is likely to have generated stable fee-based revenues in the March quarter as a midstream energy player with energy infrastructure and logistics assets. The large range of midstream properties likely to have aided MPLX in the quarter is the pipeline network, transporting crude oil and refined product.

Crude oil and natural gas gathering systems and pipelines are also expected to have generated cashflows for MPLX since healthier commodity prices are likely to have provided incentives to upstream players to ramp up exploration and production operations.

Earnings Whispers

Our proven model does not indicate an earnings beat for MPLX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.

Earnings ESP: MPLX has an Earnings ESP of -0.91%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: MPLX currently carries a Zacks Rank #2.

Stocks That Warrant a Look

Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

W&T Offshore, Inc. WTI has an Earnings ESP of +10.00% and is a Zacks #3 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

W&T Offshore is scheduled to release first-quarter results on May 3. The Zacks Consensus Estimate for W&T Offshore’s quarterly earnings is pegged at 20 cents per share, suggesting an increase of 81.8% from the prior-year reported figure.

EOG Resources EOG has an Earnings ESP of +0.89% and is a Zacks #1 Ranked player at present.

EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.69 per share, suggesting an increase of 127.8% from the prior-year figure.

Enterprise Products Partners EPD has an Earnings ESP of +0.71% and flaunts a Zacks Rank #3.

Enterprise Products is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for EPD’s earnings is pegged at 52 cents per unit.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report

EOG Resources, Inc. (EOG) : Free Stock Analysis Report

W&T Offshore, Inc. (WTI) : Free Stock Analysis Report

MPLX LP (MPLX) : Free Stock Analysis Report

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